Eloelo, India’s leading live entertainment and social gaming platform, announced raising $22 Million in its Pre-Series B round. The round was jointly led by Courtside Ventures and Griffin Gaming Partners, joined by MIXI Inc along with existing backers Waterbridge Ventures, Lumikai Fund, Kalaari Capital, Convivialite Ventures and Rocket Capital investing in the round.
With this fresh funding, Eloelo has now raised a total of $37.5 million. The funds from this round will be utilized to forge partnerships with creators, develop innovative tools across AI & AR for them, attract a broader pool of tech and product talent, and strengthen revenue generation and monetisation initiatives. The round comes 14 months after its Series A round of USD 13 million in June 2022.
"Courtside is thrilled to co-lead the investment in Eloelo alongside Griffin Gaming Partners" said Kai Bond, Partner at Courtside Ventures. "Eloelo is pioneering a new form of entertainment in India. Through a unique combination of game participation within live streaming, they are building the next generation of social networking that enables true interactivity within their community".